What Monzo's terms say
Monzo's terms of service and privacy policy have 12 rated points: 0 serious, 2 bad, 3 worth knowing and 7 good. 10 apply whenever you use the site, signed in or not; 2 only once you have an account.
Whenever you use Monzo
Bad 2
Some personal data may be kept for business interests or legal obligations
Some personal data may be kept after the end of the data retention period or a request for erasure
"ask us to delete, 'block' or suppress your data, though for legal reasons we might not always be able to do it"
Where it says this ↗You are forced into binding arbitration in case of disputes
In the United States, you are forced into binding arbitration in case of disputes
Full quote: "...any disputes related to your Monzo account will be settled by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules."
Where it says this ↗
Worth knowing 3
You should revisit the terms periodically, although in case of material changes, the service will notify
Where it says this ↗There is a date of the last update of the agreements
Where it says this ↗The court of law governing the terms is in location X
The court of law governing the terms is in England, United Kingdom
Where it says this ↗
Good 5
You can request access, correction and/or deletion of your data
"access the personal data we hold about you [...] make us correct inaccurate data [...] ask us to delete, 'block' or suppress your data"
Where it says this ↗The service claims to be GDPR compliant for European users
Where it says this ↗An audio version of the Terms of Service is provided
Where it says this ↗Archives of their agreements are provided so that changes can be viewed over time
Where it says this ↗When the service wants to change its terms, you are notified a week or more in advance
When the service wants to change its terms, you are notified a week or more in advance.
Relevant quote: "We’ll let you know at least 21 days before we make any such change." Full quote: "This agreement will always be available in the app and on our website.</p> <p>We can make changes to it for any reason. If we make changes that are in your favor, we'll tell you once we've made them. Otherwise we'll give you notice in the most secure way, using one of our usual channels (see ‘How we’ll contact you’ above). We’ll let you know at least 21 days before we make any such change."
Where it says this ↗
If you have a Monzo account
Good 2
You can retrieve an archive of your data
"ask for a copy of your personal data in a portable (machine-readable) format or make us send it to someone else"
Where it says this ↗You have the right to leave this service at any time
Full quote: "You can close your account for free any time you like If you’d like to, please get in touch with us."
Where it says this ↗
The documents
Ratings by ToS;DR volunteers; they can lag behind the current terms. Not legal advice.